Business Setup In Sharjah Airport International Free Zone (SAIF Zone)

INTRODUCTION

Sharjah Airport International Free Zone (SAIF Zone) was established in 1995. Since then, it has become one of the United Arab Emirates’ business centers. Its strategic location, being situated beside the International Airport of Sharjah, makes it advantageous in terms of easy access on air.

Sharjah serves to be one of the biggest parts of the industrial activity of the United Arab Emirates (UAE). It aims to maintain its versatility. All kinds of businesses from various sectors will feel right at home as Sharjah Airport International Free Zone (SAIF Zone) ensures that every single company is accommodated just the way they want to be and more. The facilities they provide have the highest quality yet they are set at affordable prices, such as their warehouses, storage areas, container parking, bunkers, etc.

Just some of the incentives that Sharjah free zone offers a speed of service and simplicity of the process. Businessmen who would like to conduct a business setup in SAIF Zone has five licensing options to choose from, and they are as follows: Trade License, Commercial License, General Trading, Service License, and Industrial License. The Sharjah Airport International Free Zone (SAIF Zone) companies enjoy the structured facilities that are offered to them such as an industrial park, land on lease, pre-built warehouse, temporary warehouse, etc. Because of this, SAIF Zone company formation has been notable for many years since SAIF Zone Sharjah has many benefits in its sleeves that they offer to clients.

Sharjah Free Zone company formation, like any other free zones, has its own systematic procedures for processing documents. Once you decide that you want to carry out SAIF Zone company formation, it is advisable to look for a consultancy company. Most, if not all, of the Sharjah Airport International Free Zone (SAIF Zone) companies were helped by consultants. These people are willing to provide you with the needed information before you dive into Sharjah Free Zone company formation. By informing you about the Sharjah business license fees or the SAIF Zone license cost, it can prepare you with regard to your budget in this Sharjah Free Zone company setup that you are planning to conduct. It is beneficial for your side if you are well informed all about the SAIF Zone Sharjah, such as SAIF Zone labour law so that you know how to handle your employees lawfully and especially the SAIF Zone rules and regulations. An additional benefit that you gain in having a consultant is that you can pose Sharjah trade license inquiry and all the things that you think you need to know about it. And, of course, it is a big advantage that they will be the one to go to the concerned departments with regard to your Sharjah Free Zone business setup. They will submit and obtain papers to Sharjah Economic Department and others if needed. Forming a company is fairly easy and hassle free when you pick the right people for your team to go through the needed procedures.

BENEFITS

Sharjah Airport International Free Zone (SAIF Zone) has been operating for more than two decades now. Investors are still coming to conduct Sharjah freezone business setup because of its advantages that duly meet the needs of the business owners and what they’re looking for in a location.

Some of the advantages are listed below that investors see, giving them the reason to choose SAIF Zone as the place to build their company.

100% foreign ownership

A local sponsor will not be needed for a business owner to set up a Sharjah freezone business setup. This is completely opposite from the mainland that requires you to find a local sponsor that will have 51% of your company’s shares. In this case, it means that being in a free zone will give you 100% ownership of your business.

Tax exemption

Although value-added tax (VAT) has already been implemented in the country, falling onto some goods and services, organizations are still not required to pay corporate and income taxes to the government. This is still seen as a huge advantage for the businessmen who are looking for tax exemption from those kinds of taxes.

No Office Space Needed

In this free zone, having a physical presence in the location is not necessary. Companies are given the opportunity to not lease an office space and still have up to three visas. This kind of offer is for freelancers and single owners who do not necessarily have to stay in an office to work. This is a really good deal to have since they can have an up-and-running business without having to go through the procedures of setting up a business.

There are a lot more that Sharjah Airport International Free Zone (SAIF Zone) is capable of offering businessmen. The following additional benefits are listed below for you to see:

100% foreign ownership

100% repatriation of capital and profits

100% free transfer of funds

BUSINESS ACTIVITIES

There are various business activities that Sharjah Airport International Free Zone (SAIF Zone) offer to investors, such as import and export, IT services, media, logistics, consumer durables, trading, publishing, advertising, etc.

SUPPORT SERVICE

FAR Consulting Middle East is one of the leading Sharjah business setup consultants that offer quality business setup services in Sharjah. We will ensure that you have all your questions answered, such as business setup cost in Sharjah and any follow-up questions you have about your Sharjah trade license inquiry.

We can provide the following services when you let us handle your company formation affairs as your business consultants in Sharjah:

Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)

Representing the client in front of the authorities

Assisting the client in bank account opening

Assisting the client in account opening with the Ministry of Labour

Assisting the client in account opening with the UAE immigration

Assisting the client in leasing a premise as an address for the business

TIMELINE/PROCEDURE

The procedure of processing your business setup in SAIF Zone will range from 2 to 4 weeks.

Personal information sheet of each shareholder and manager (template will be forwarded by our firm)

Lease agreement (documents)—having a physical address for your business/office is mandatory in the UAE. The rent on average within the free zone area is USD 25 up to USD 45 per sq. ft. (USD 225 up to USD 400 per sq. m.). Our firm can assist you while searching for your physical address. You can learn more about leasingand rental cost here. (This item will be required only after we obtain the initial approval from the authority.)

Notarized and attested Power of Attorney appointing our firm as your legal representative, so that we can act on your behalf and/or on behalf of the shareholders (template will be forwarded by our firm).

There are some activities which might require third-party/authority pre-approval—accordingly, additional cost and professional fees might be applicable.

Also during the process, the authorities might require a few other documents.

Additional Documents Required for a Corporate Shareholder

Attested and notarized Memorandum of Association/Article of Association—it must be attested from the UAE Embassy at the place of origin

Board resolution must be resolute by the board of directors of your existing company/entity at the place of origin expressing the ntent of establishing a new setup abroad. It must be attested and notarized by the UAE Embassy (template will be forwarded by our firm).

Certificate of registration (if applicable) of your existing company/entity, license, or certificate of incorporation must be attested and notarized by the UAE Embassy

FEES

SAIF Zone License Cost

Below is the estimated business setup cost with our own assessment of the fees. You can contact us for further information regarding this table of estimation.

Sharjah Business License Fees Table of Estimated Government Cost and Professional Fees

Trade License Option/Activity

Cost in USD

Cost in AED

Industrial License

USD 2,054

AED 7,500

Commercial License

Specific Trading

USD 2,054

AED 7,500

Oil & Gas

USD 2,739

AED 10,000

Real Estate

USD 4,109

AED 15,000

Aviation

USD 4,109

AED 15,000

General Trading License

USD 4,109

AED 15,000

Service License

Specific Services

USD 2,054

AED 7,500

Oil & Gas

USD 2,739

AED 10,000

Freight Forwarding

USD 2,328

AED 8,500

Real Estate

USD 4,109

AED 15,000

Aviation

USD 4,109

AED 15,000

Our Firm’s Professional Fees

USD 5,000

AED 18,365

ATTENTION – NOTE

All fees for government and related authorities are estimation only. The exact government fees will be determined at the time of submission of the applications. We are obligated to provide our clients with all receipts of government and related agencies against the amount that will be paid. Every amount that will expense for your business registration will be supported by documents. In case of shortage, the client has to repay us. In case of excess, we have to refund the client.

Our professional fee covers consultation, drafting of legal documents, introducing reliable local citizen service-agent when required, assisting in document notarization from the local notary public, assisting in local bank account opening, and applying to the concerned authorities on your behalf.

RELATED SERVICES

We do not only offer to answer your question of how to start business in Sharjah but to also make it happen. Even more, we provide services that can assist you in having your business grow further.

The below services can help you advance as you go forward with your company: